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Detail Analysis

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Date:

Status:

Count:

Contributor:

June 25, 2019

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Verified

2

zerofriction.io

Loss Amount:

37,000,000

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Recovered Amount:

-

Currency:

Dollars, sKRW, sETH

KYC By:

Audit By:

None

None

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Website:

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Ethereum

Protocol

Derivatives

Contract Vulnerabilities

Extended Method:

Oracle manipulation

Data Sources:

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Synthetix, a synthetic asset issuance platform built on Ethereum, experienced an oracle attack which netted the attacker over 37 million sETH, according to Etherscan. However, the true dollar value is difficult to calculate at this time given the relative illiquidity of sETH on secondary markets. In this case, a Synthetix oracle, responsible for providing external data to Synthetix’s smart contracts, transmitted false data on June 25, which a bot took advantage of. One bot owner's balance was inflated due to an incorrect sKRW price feed, which he then converted into an inflated amount of sETH. Attempted to contact bot owner to recover part of funds, however, no further details reported.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.